Blockchain
Cypherpunk Holdings Appoints Jeffrey Gao as President and Chief Executive Officer and Tony Guoga Executive Chairman
Toronto, Ontario–(Newsfile Corp. – October 27, 2021) – Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: KHRIF) (“Cypherpunk” or, the “Company“), a sector leader for cryptocurrency, privacy and cryptography focused investments, is pleased to announce that Jeffrey Gao has been appointed President and Chief Executive Officer of the Company. Tony Guoga, currently the Chief Executive Officer, has been appointed Executive Chairman. These changes are effective on November 7, 2021.
Tony Guoga commented: “Jeffrey is the right person to lead Cypherpunk into the future, given his strong command of our business and already bringing lots of value as a member of the Investment Committee. We are on a positive growth trajectory and are well-positioned to build on our strong momentum. I am pleased and proud that Jeffrey will lead our company and I am excited to work with him along with our entire leadership team to ensure a seamless transition toward Cypherpunk’s next phase of growth.”
Moe Adham, Director and Chief Investment Officer: “Jeffrey has the leadership track record and breadth of business experience we believe are critical to lead Cypherpunk. He has a strong focus on leading with innovation, is committed to our core values and focused on delivering value to our shareholders. Speaking on behalf of the board, we look forward to working closely with Jeffrey as Chief Executive Officer.”
At the same time we are delighted that we will continue to benefit from Tony’s experience in his active role as Executive Chairman. Tony has been an exemplary leader as Chief Executive Officer during his time with a steadfast commitment to building Cypherpunk’s business.
As Executive Chairman, Tony will continue to play a key role and be actively involved in the business. He will chair the Board of Directors, act as an advisor to the Company and be involved in the shaping of its long-term strategy. He will also continue to represent Cypherpunk around the world with key players in the cryptocurrency sector and continue as our brand ambassador.
Our incoming CEO, Jeffrey Gao, stated: “I was brought on by Tony earlier this year to serve as a member of Cypherpunk’s Investment Committee. That feels almost a lifetime ago. I cannot ask for a better group of like-minded friends and colleagues to work with and serve alongside. I am truly humbled by the appointment and honored to lead our growing company as its Chief Executive Officer,” said Jeffrey. “There is much we can do for our loyal shareholders – Cypherpunk has a diverse mix of some of the most exceptional and talented individuals in our industry and I look forward to working closely with our entire team to create value for our shareholders.”
Cypherpunk confirmed there is no change to the business outlook.
Jeffrey Gao
Jeff joined the company in April 2021 as an advisor to the Investment Committee. A quant and data scientist by way of training, Jeff holds a degree in Commerce (Actuarial Science) from The University of Melbourne and is a BSc / MEng (Electrical) graduate from Monash University. Prior to joining HODL, Jeff worked across a range of start-ups in his hometown of Melbourne Australia and currently holds a lecturing post at Kaplan Business School. Jeff is also a sophisticated investor and runs a small family office, managing private wealth.
Tony Guoga
Tony is a well-known investor, businessperson, high stakes poker player, and former member of the European Parliament. His diverse accomplishments include being named as one of Politico Magazine’s 28 people who are shaping, shaking and stirring Europe in 2016. Tony also founded the Blockchain Centre in Vilnius, Lithuania in 2018. On the other side of the coin, Tony is a cable tv star in the USA by winning millions of dollars locking horns at poker with the best players in the world. He resides in Vilnius, Lithuania.
About Cypherpunk Holdings Inc.
Cypherpunk is a company set-up to invest in companies, technologies and protocols, which enhance or protect privacy. Its strategy is to make targeted investments in businesses and assets with strong privacy, often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia, NGRAVE, and Animoca.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s future performance or business. There is no assurance that the Company’s plans or objectives will be implemented as set out herein, or at all. Forward- looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Officer/Director Contact:
Jeffrey Gao
Chief Executive Officer
[email protected]
Office: 1-647-946-1300
Investor Relations Contact:
Veronika Oswald
Investor Relations
[email protected]
Office: 1-647-946-1300
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101027
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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